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Executives' Comments  Speech by Chairman Realizing a Positive Cycle of the Economy -- New Year Message from the Chairman of KEIDANREN --

January 1, 2014
Hiromasa Yonekura

On the back of the Abe Cabinet's economic policies, the Japanese economy is continuing to recover, driven by steady consumer spending and domestic demand. The government is also going to implement policy measures to revitalize the business sector, such as abolishing the special corporate tax for reconstruction from the Great East Japan Earthquake earlier than scheduled. Against this backdrop, the year 2014 will be an excellent opportunity to steer the Japanese economy out of the deflation and into complete revitalization. It is time to establish a strong foundation for sustainable economic growth and to start building a prosperous, vibrant new Japan in which the world can put their hopes and trust.

To achieve it, nothing is more important than the business sector's efforts. It is companies that can make the economy grow and bring wealth to the people. We in the business sector must be determined to play a leading role in Japan's growth strategy, make an all-out effort to create new growth opportunities, and move the revitalization of the Japanese economy forward.

As "action-oriented KEIDANREN," we will continue to strive to achieve a private sector-led, robust and sustainable economic growth. In particular, we will promote innovation through our "Future City Model Projects," accelerate our initiatives to develop human resources for global business, and strengthen career development support for women, while also stepping up our policy proposal efforts. And we will endeavor to create a "positive cycle of the economy," in which improved corporate performance leads to expanded investment, job growth and wage increases.

Meanwhile, we urge the government and ruling parties to further speed up the reconstruction from the 2011 earthquake and tsunami. In addition, we call on them to implement decisively and promptly policy measures necessary to enable companies and individuals to unleash their full potential, especially:

  • bold regulatory and institutional reforms
  • measures to ensure stable and cost-effective energy supply
  • economic partnership agreements, including the TPP and an EU-Japan FTA/EPA
  • measures to create an environment where diverse people can show their capabilities
  • tax, fiscal and social security reforms that will contribute to economic growth
  • the introduction of the "doshu-sei" regional government system.

Executives' Comments